BUYING VS RENTING AN EDMONTON HOUSE

In life we are given choices for us to pick so that we can choose the best possible option, buying and renting an Edmonto home is no exception. We want the best for our family as we want it for ourselves. Is buying an Edmonton house really a better choice that renting?

So which opportunities will you choose?

Down Payment

Buying:

The accustomed down payment of an Edmonton house is 20% of the acquirement value.

Renting:

It is commonly know when renting a property requires a deposit equivalent to the first and last month’s rent.

Fixed Rate

Buying:

For as long as it takes to pay off the house, a fixed-rate mortgage lets homeowners know what exactly their monthly dues will be.

Renting:

Landlords can change the rate at the end of a leasing period when renting a property.

Taxes

Buying:

Property taxes on a home can be quite discomforting.

Renting:

A renter does not have to deal paying property taxes separately.

Maintenance

Buying:

It’s your house so taking care of it when problem arose is your responsibility.

Renting:

Renters typically doesn’t deal with any problematic issues regarding the well-being of the house however they are obligated to report when something goes wrong to the landlord.

Flexibility

Buying:

You cannot easily part with a home. It may take months or even years to sell and by then you may be selling at a loss.

Renting:

A renter doesn’t have money bounded at their rented property so they have more flexibility of leaving a place at the end of a lease.

Everyone has the option to buy or to rent a property it all depends on the circumstances of the person. Buying a home is a long term investment which may take years for the effect to be felt but if you are thinking of settling down in a place where you think you may stay for 15 years then buying is a great option but if you are on a constant move then renting is your choice.

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Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.

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